Domestically, the rapid disinflation has created policy space, but also raises important questions and policy issues, Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, has told the Monetary Policy Committee (MPC).
Dr Asiama said that while well-coordinated monetary and fiscal policies have supported these gains, our task is to assess the durability of these policies and calibrate policy to support growth while preserving credibility.
Speaking during the opening of the 128th MPC meetings, in Accra on Monday, January 26, Dr Asiama said that since the last MPC meeting, macroeconomic conditions have continued to improve.
Inflation declined to 5.4 per cent at end-2025, with expectations well anchored. External buffers have strengthened, with gross international reserves rising to US$13.8 billion, equivalent to 5.7 months of import cover, Dr Asaiama said.
He added that this was supported by a current account surplus of 8.1 per cent of Gross Domestic Product (GDP).
“Economic growth up to the third quarter remains strong, and leading indicators point to more growth ahead, and this is engendering confidence in both consumers and businesses.
“These outcomes confirm that recent policy choices are yielding results and that policy credibility has been restored. But this meeting is not about touting the successes achieved, but rather about analysing the data that will be presented to the committee to assess whether stability will be
guaranteed going forward,” he said.
